Respuesta :
Assets - Liabilities = Equity
= 83000-23000
Equity is 60000.
The response is (a) Increased by $60000.
5) Cash, accounts receivable, supplies, inventories, and prepayments are all included in current assets.
Account payable.
6) The three names for the income statement are Statement of operations, Statement of earnings, and Statement of profit and loss.
So, the correct response is d) Statement of financial situations.
7) Due to the fact that most businesses use accrual accounting rather than cash accounting, the amount of money collected from accounts receivable is reported in the statement of cash flow.
Response: (c) Statement of cash flow
What is account payable?
Accounts payable refers to the money that a business owes its suppliers, whereas accounts receivable refers to the money that a business is due, generally by clients. When a business conducts a credit transaction with another, the first firm records an entry to accounts payable while the second records an entry to accounts receivable.
Learn more about Accounts payable https://brainly.com/question/14438810
#SPJ4
